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When IRBA started the current

format of PPE in 2006, it was a

ground breaking achievement as

we also introduced the concept of

a marking centre at the same time.

The first PPE under the auspices

of the IRBA was written by 2 451

candidates, 1 744 passed achieving

a record pass of 71%. The PPE

once again proved to be a very

good assessment of professional

competence at entry point into the


Looking at the statistics this year,

the numbers have increased

slightly with the transformation and

support group candidates numbers

increasing significantly. As we close

a chapter on the current format of

PPE as we know it, a new chapter

opens with the Audit Development

Programme (ADP). The ADP is

designed to complement and run

parallel with the internal structures,

performance review and evaluation

process of a Registered Auditor firm.

The detailed announcement in the

press appears on page 3.

At the end of last year I informed

you of the World Bank Report

on the Observance of Standards

and Codes (ROSC) and the

recommendations therein. We have

submitted our recommendation to

National Treasury on our vision

for the implementation of the

recommendations, and will share the

final decisions taken by the Minister

as soon as it is available.

Over the years we have become

known for the quality of our work

and that has also been proven

by our number one ranking in the

World Economic Forum Global

Competitiveness Report for the last

four consecutive years. This has also

opened doors for more countries to

approach us and want to learn from

us on how we have implemented

our regulatory framework. We

have recently hosted the Botswana

Accountancy Authority Oversight

(BAOA) board members for a two

day Information Session. The visit

included various presentations on

the legislation, the role of a regulator

and all the functions under the IRBA.

BAOA is a fairly new regulator

and needs our support to grow

and to strengthen their role as an

independent regulator. Botswana

has recently been admitted to the

International Forum of Independent

Auditor Regulators (IFIAR) as

a member. This brings to four

the number of African countries

represented on IFIAR, namely: South

Africa, Mauritius, Egypt and now

Botswana. The growth in the number

of IFIAR members in Africa means

that more countries see the benefit

of Independent Regulation and are

serious about the benefits and need

for independent regulation to instill

the required confidence in financial


Our engagement in Africa continues

through the liaison with the regulator

(Financial Reporting Council) in

Mauritius. We have invited four

countries (Zimbabwe, Egypt, Nigeria

and Botswana) to a workshop that

we plan to host in June 2014 to

discuss a strategy to strengthen

independent regulation in Africa

and create a regional body which

will promote independent audit


As part of our continued

engagement with our stakeholders,

our legal team hosted three

workshops on auditor reporting.

The practical and interactive

workshop exposed participants

to the application of fundamental

auditor reporting principles in

practical situations which have

previously resulted in auditors

being investigated, and possibly

charged with improper conduct. The

workshops were quickly fully booked

and more dates had to be opened to

allow more participation.

I am sad to announce that Sandy

van Esch, our Director: Standards,

will be retiring at the end of May

2014, having spent most of her

working life contributing and